RRSP MATCH Sample Clauses

The RRSP Match clause outlines an employer's commitment to contribute to an employee's Registered Retirement Savings Plan (RRSP) by matching a portion of the employee's own contributions. Typically, this clause specifies the percentage or dollar amount the employer will match, up to a certain limit, and may detail eligibility requirements or vesting schedules. Its core practical function is to incentivize employees to save for retirement by providing additional financial support, thereby enhancing employee benefits and promoting long-term financial security.
RRSP MATCH. The Company agrees to match employee contributions to a Registered Retirement Savings Plan as follows: Part time employees may join at their option. Employees may contribute over and above the Employee/Employer match with no employer matching contributions. Employees may change contribution levels once a year on the contract anniversary. • Employees become eligible to participate in the RRSP match upon completion of one (1) year of continuous service with the Company; • Employee contributions will be made bi-weekly payroll deductions.
View Source

Related to RRSP MATCH

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Tax-Deferred Earnings The investment earnings of your IRA are not subject to federal income tax until distributions are made (or, in certain instances, when distributions are deemed to be made).

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Contribution Eligibility You are eligible to make a regular contribution to your ▇▇▇▇ ▇▇▇, regardless of your age, if you have compensation and your MAGI is below the maximum threshold. Your ▇▇▇▇ ▇▇▇ contribution is not limited by your participation in an employer-sponsored retirement plan, other than a Traditional IRA.

  • Individual Account An individual account is an account owned by you alone, which you as the account owner use during your lifetime.